Understanding The Market For Apartments For Sale And How To Decide On The Type Of Property You Would Want To Own In Colombo

Popularity Of Apartments For Sale
With the growth of the economy in Sri Lanka, there has been an increased focus on the real estate market within the island as well. Due to the higher concentration of development occurring closer to the capital city Colombo, it has also increased the demand for property either for purchase or rent in the vicinity. But such rapid developments and increased demand has also led to a scarcity of free land available. Since the need to buy home properties has to be provided with a solution, many leading apartment builders have begun several projects to provide potential homeowners with viable solutions to choose from. This sort of developments is supported by statistics that indicate that the entire Western province covers only 6% of the country’s land areas but close to 28% of the population seek to make their homes in the area.

Since this trend has been on the rise during the past few years, now you can find many apartments for sale and also apartments for short term rent that can be chosen according to your requirements. There are also several good houses for sale available in nearby areas but due to the high prices, they are not suitable for many interested homebuyers. In terms of apartments there are broadly two categories, namely, luxury apartment projects and micro apartments available for consideration.

Types Of Apartments For Sale

Popularity of luxury apartment projects
In previous times, real estate agents and property developers focused more on offering stand-alone houses for sale. But now, with the limitations highlighted above, these developers have looked to offer those who want to buy home units the option of choosing from luxury apartments. It has been found that the demand to buy apartment that fall into the luxury category comes from the Sri Lankan community as well as foreigners. Such investments made in relation to own properties in Colombo area have also shown high increase in popularity. As per the statistics gathered up until 2015, there have been close to over 2600 luxury apartment units and it is further estimated that this number could reach close to 6000 units by 2019. Such luxury units are also found to be available for those who wish to rent an apartment, giving rise to more and more apartments for short term rent being offered.

Potential for micro apartments in Sri Lanka
Another alternative to houses for sale is the availability of real estate in the form of micro apartments. Many apartment builders have also invested in such projects that have been in high demand among those who want to buy apartment space in Colombo. The target market for this type of property has actually found appeal among the affluent customers who might even want a luxury apartment as well as middle-income individuals who want to invest in such a home for them. Similar to the above category, this type of housing solutions are also available as apartments for short term rent for those who are unable to buy home units by making an outright purchase and therefore look to rent an apartment instead. This opens up the possibility for more home seekers to get closer to their dream of owning a home in a prime city location.

Choosing Between Apartments And Houses For Sale
When you consider purchasing such properties you should be prepared for making the investment. The main decision you would need to make would be in relation to whether you actually want to buy apartment space or you still would like to look out to buy home in the form of a separate house. As a primary consideration when you invest in real estate you would need to decide on the space or size of home. Normally houses in Sri Lanka tend to cover about 2700 sq ft while an apartment would generally fall in the range of 1000 to 1500 sq ft. In addition apartments tend to offer additional services such as security, cleaning, waste disposal and other recreational facilities that are normally not available with separate housing units. But on the other hand, you might want to consider the following that are normally not available with apartments.

When you buy apartments you will get a limited parking slot allocation

Modifications are not possible

Most apartment complexes have restrictions on owning pets

Your possibility of engaging in gardening activities is very minimal

Considering When To Rent An Apartment
Due to the various requirements of homeowners there are several other options made available in terms of being able to rent an apartment. Many individuals who would be looking at living in small living spaces for short periods of time can consider finding apartments for short term rent. Since there is a high portion of the population that need to find accommodation to travel to work and for other arrangements in the city limits, this has become more of a financially viable option many prefer. Depending on the requirement you could even arrange to extend the rental period once agreed with the renter. This is also a great way to check whether you can adjust to an apartment style living. If the lifestyle appeals to you, with time, you could also consider owning an apartment of your own.

To cater to much of the demand to wanting to buy apartment properties, there have been several investors and developers who have taken interest in developing projects which are in demand for this market. Among these companies there are several reputed apartment builders operating in the island that have produced several leading apartment projects and have several others lined up as future projects.

The population in Dallas, Texas is estimated at 1.3 million. The city holds more than 1063 apartment communities. In order to meet the growing demand for apartments for rent, the developers in Dallas has developed 35 additional apartment communities. This has helped the families looking for Dallas apartments for rent. They could choose from many varieties of apartments for rent. You could get confused to select the right apartment in a convenient location. Use the web search to find the right apartment. You could find details about varieties of apartments on websites. They provide you details about rent, basic amenities, number of bedrooms and distance to essential places like shopping complexes, nightlife, restaurants, hospitals and transport. The city has more than 746 apartments.

You could find apartments at affordable rents in Dallas. Monthly rent for single bedroom apartment varies from US$345 to US$7399. Monthly rent for two-bedroom apartment is about US$379 and it can go up to US$10111. The rents may go down depending on how hard you negotiate with the help of a rental agency. Most of the Dallas apartments provide parking facility.

If you were looking for Dallas apartment with luxury amenities, the rent would go up. More than 250 communities in Dallas provide large sized garden tubs. Over 526 communities provide covered parking. One needs to look at apartment size, basic amenities, rental prices and community location. Websites provide up to date information about various vacant apartments. You can also seek the service of apartment locators to find the right apartment for rent. You would also get necessary information about neighborhood communities. You need to provide your preference and rental price details to apartment locators to help you find a suitable apartment. Most of the apartment locators are licensed and provide details about safe. Hence finding right Dallas, Texas apartment for rent becomes a child play with help of apartment locators.

Cost of living in Dallas is low when compared with other cities. It also has many neighborhood suburbs. You can enjoy nice life in Dallas. Certain areas are costly and only affluent people can afford accommodation in such locations. There are many super luxury facilities for wealthy people. Many of the this are well-maintained interiors and exteriors. They are provided with outdoor patio settings, sufficient parking space and bright lighting. Monthly rent for such as around US$3000.

Dylan Residences are most modern Dallas apartments with luxury facilities such as swimming pools, rooftop decks, spacious closets, decorated kitchens and Wi-Fi connections.

Dallas apartments in Belmont are built in close proximity to restaurants and boutiques in the Henderson corridor location. The apartments are provided with bay windows, plush interiors, clubhouse, gated community, equipped kitchens and other facilities.

Lately I have been receiving dozens of emails regarding apartment rentals in Rio de Janeiro. People have sent me many questions and concerns, asking what are the average prices of apartments in Rio, their average prices, best locations, best deals, established companies, what should be included in the vacation apartments and so forth. This is when I decided to write a basic guide on renting apartments in Rio, Brazil. Some down to earth tips might save you some monies and avoid headaches.

The first thing you need to know when renting a vacation apartment in Rio is that it’s a legal well established business within the tourist industry in Brazil. Many Brazilians and even foreigners buy apartments in Rio exactly for this purpose. Investors commonly buy used apartments and renovate them to offer the best comfort as beach rentals. Let’s now discuss the main points you should be note when selecting an apartment.

Prices: prices in vacation apartments in Rio can vary significantly. Generally the more luxurious, the more expensive are the apartment prices. Beachfront apartments also carry a premium in their prices. Another rule is obvious, the greater number of rooms, the pricier it gets. If you travel with a group of friends, price per room can decrease substancially. Renting apartments with more than 3 rooms can be a wise option.) Prices are normally charged by number of nights. That is, if an apartment costs US$ 100.00 p/day, 10 nights will be US$ 1000.00. Discounts can be considered above 30 days rentals. Prices per day can decrease for longer periods, since a longer stay will be booked. How much per day? Usually fair apartments can be found starting at US$ 90,00 a day. Two bedrooms apartments in Ipanema, Lagoa and Leblon, all beach neighborhoods can vary from US$ 150 to US$ 300 a night, on average. If the apartments are located in high floors, if they have private pools and/ or hydro massage bath tubs, prices can rise significantly.

Locations/ Neighborhoods: Like any other major city in the world, prices vary by per different neighborhoods and zones. Most expensive apartments are all found on the South Zone (called “Zona Sul” in Portuguese), specifically in the following neighborhoods: Ipanema, Leblon, Lagoa, Copacabana, Flamengo and Botafogo. Barra da Tijuca, once a separate beach neighborhood, also offers some very luxurious flats and residence services, but you need to have a car to drive around since public transportation is limited there. Ipanema, Lagoa and Flamengo have been considered the safest neighborhoods, since prostitution is heavily combated in those areas. Copacabana is a universe on its own, with a many apartments to choose from. Copacabana is one of the most famous neighborhoods in Rio, with night-clubs, beach and lot´s of culture. Need some one liner neighborhood highlights? Here they are: Ipanema: Fashion shops, trendy restaurants, and gorgeous beach. Leblon: upscale shopping mall, excellent restaurants and bookstores. Lagoa: nice park, tranquil night kiosks around lagoon; Copacabana: wide apartment selection, public transport, eclectic environment. Flamengo: family type neighborhood, Flamengo Park, famous street bars. Barra: beautiful beach, Miami hype constructions.

Rental Agencies: The most popular way to find a rental agency is through the web. The are innumerous rental agencies to choose from in the wonderful city. The great majority of vacation rentals in Rio are serious in their business, delivering what they claim. Most of them display a list of apartments they own or represent, either by neighborhoods or by number of rooms. They present up to 10 pictures of the rentals and a small description of the amenities and apartment surroundings, so you can familiarize with the region. When you are choosing the apartment, first try to identify yourself with the neighborhood you are staying in, as well as your budget. This will save you time and help in the selection process. Once you know what where you want to stay and how much you can afford, browse through the apartments list and see if there is anything you like.

Once you see something you like, send an e-mail to the company stating which apartment you have in mind, and a second or third option, case that apartment is taken. (Many rentals offer an on-line bookings calendar view, which may save you time as well.). To find a list of rentals agencies in Rio, type in Google “Vacation Apartment Rio” and check the results. You will find more than 10 agencies only in page 1 of your search.

How are Payments made: Most Rental agencies in Rio take Pay-Pal, money wires, credit cards and cash. A reservation deposit is necessary to secure your apartment reservation. Companies have different reservation deposits policies. These deposits can vary from 30% up to 50% of the total stay amount. After the agency acknowledges the initial payment, the balance due is normally paid on entrance and key delivery of the vacation apartment. Most companies however do not return reservation deposit for Carnival and New Years holidays, due to great demand. Check the cancellation policy in company’s website or via e-mail.

Amenities: Vacation apartments in Rio also vary a lot in terms of their included amenities. Most of them offer by default a complete kitchen, cable TV, Internet access, air conditioner in the rooms and linens/towels. This would be the minimum acceptable. One level above, rentals can provide CD/DVD player, clothing washing machine, coffee machine, and safe. Luxury apartments in Rio and residence service flats additionally can offer hot-tubs, private pools, and even gourmet kitchen utensils.

Do’s and Don’ts: Be very careful during the reservation process since you need to understand all of the apartments requirements. Once you have decided for the rentals agency and the apartment in mind make sure you have all your questions and concerns promptly answered. It is the agency’s obligation to make sure you feel comfortable with your choice. Your rentals contacts should be courteous and receptive. If during the reservation process you are not satisfied or comfortable with your rentals contact, be sure to change your agency. If you have any friend in Rio de Janeiro, ask him/her to visit the apartment. This procedure is pretty common. Another tip would be to try to plan ahead. As soon as you have your travel dates secured, start your “apartment hunting”. Be sure to ask for a contract as well, and read all of the buildings do´s and don’ts.

Apartments for vacationers are numerous but even so, Rio is famous for having the most exotic beached in the world and thousands flock here every year. So it’s wise to remember that the best vacation apartments get filled up very quickly especially in during New Years holidays and Carnival. I truly believe Rio is a city full of wonders and hosts the friendliest people on earth. Buy the latest fashion trend bikinis and flip-flops, but remember that the best vacation apartments in Rio get filled up very quickly especially during New Years and Carnival. So make sure you book well in advance.